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Kellogg (K) Gains But Lags Market: What You Should Know
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In the latest trading session, Kellogg (K - Free Report) closed at $73.15, marking a +1.55% move from the previous day. This change lagged the S&P 500's 2.6% gain on the day. Elsewhere, the Dow gained 2.83%, while the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the maker of Frosted Flakes, Pop Tarts and Eggo waffles had gained 2.16% over the past month. This has outpaced the Consumer Staples sector's loss of 9.14% and the S&P 500's loss of 12.9% in that time.
Kellogg will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Kellogg to post earnings of $0.96 per share. This would mark a year-over-year decline of 11.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.76 billion, up 3.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.13 per share and revenue of $14.85 billion, which would represent changes of -0.72% and +4.69%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Kellogg. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. Kellogg is currently a Zacks Rank #3 (Hold).
Investors should also note Kellogg's current valuation metrics, including its Forward P/E ratio of 17.46. Its industry sports an average Forward P/E of 17.15, so we one might conclude that Kellogg is trading at a premium comparatively.
Meanwhile, K's PEG ratio is currently 4.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Food - Miscellaneous was holding an average PEG ratio of 2.47 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Kellogg (K) Gains But Lags Market: What You Should Know
In the latest trading session, Kellogg (K - Free Report) closed at $73.15, marking a +1.55% move from the previous day. This change lagged the S&P 500's 2.6% gain on the day. Elsewhere, the Dow gained 2.83%, while the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the maker of Frosted Flakes, Pop Tarts and Eggo waffles had gained 2.16% over the past month. This has outpaced the Consumer Staples sector's loss of 9.14% and the S&P 500's loss of 12.9% in that time.
Kellogg will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Kellogg to post earnings of $0.96 per share. This would mark a year-over-year decline of 11.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.76 billion, up 3.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.13 per share and revenue of $14.85 billion, which would represent changes of -0.72% and +4.69%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Kellogg. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. Kellogg is currently a Zacks Rank #3 (Hold).
Investors should also note Kellogg's current valuation metrics, including its Forward P/E ratio of 17.46. Its industry sports an average Forward P/E of 17.15, so we one might conclude that Kellogg is trading at a premium comparatively.
Meanwhile, K's PEG ratio is currently 4.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Food - Miscellaneous was holding an average PEG ratio of 2.47 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.